United States aims to restart China trade talks

Ann Santiago
June 28, 2019

Trump advisers have said no broad trade deal is expected to be made at the meeting but they hope to create a path forward for talks.

The senior administration official, speaking to reporters on condition of anonymity, declined to give details about plans for the meeting, other than to say it would likely happen on the second day of the Friday-Saturday summit in Osaka.

A Chinese foreign ministry spokesman in Beijing said China intends to defend itself against further USA moves to penalize it over trade friction. All eyes will be on whether the United States and China, the world's top two economies, can bury the hatchet in their long-running trade war that is causing headwinds for an already fragile global economy.

Earlier Trump confirmed that he will meet with Russian President Vladimir Putin and President of China Xi Jinping during the G20 summit. For his part, Xi told Trump that "China and the U.S. will both gain by co-operating and lose by fighting", according to Chinese state media. "China trade fiction is an urgent issue", said Junichi Sugawara, a senior research officer at the Mizuho Research Institute.

Macron, for his part, said on the sidelines of the G20 meeting in Tokyo that he would do "the maximum" to "avert military escalation" between Iran and the US.

If the meeting does not go well, there are chances for the world economy to be cast into a world recession.

The G20 comprises Argentina, Australia, Brazil, Canada, China, the European Union, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom and the US. The United States and China have waged an 11-month trade war marked by tit-for-tat tariffs on hundreds of billions of dollars of each others' goods, roiling financial markets, disrupting supply chains and crimping global economic growth prospects.

Here are five things to watch out for during the leaders' pow-wow, and the series of bilateral meetings taking place on the sidelines of the summit.

No agenda has been announced for the Modi-Trump meeting but the two leaders can be expected to discuss trade, which has emerged as the key irritant between the two sides that have otherwise seen growing convergence on a host of issues, including strategic ties with an emphasis on a free and open Indo-Pacific, defence cooperation and counter-terrorism.

US President Donald Trump arrived for the summit days after pulling back from the brink of armed conflict with Iran and as he trades threats over its nuclear program and support for terror groups.

"They can watch on a Sony television the attack", the United States president said.

"When it comes to India's relations with the world, Japan holds an important position".

According to Bloomberg, Trump expressed to confidants that the accord, which forms the alliance between countries emerging from World War II, was "too one-sided" because it does not oblige Japan's military to assist USA defence forces.

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